How to Become a Floor Broker

I hope you enjoy reading this blog post.
if you want to learn how I ended up in front of you, click here.

The stock exchange is a very complex entity and a variety of highly skilled and trained professionals are required for its effective and efficient function. Floor brokers are exchange professionals that carry out orders for their firms and clients of the trading floor of the securities exchange.

Next:

Hey, I'm Joshua T. Osborne

In 2015, I said goodbye to 16-hour days and hauling boxes up and down stairs for a living (I was a mover). I became a full-time entrepreneur, and I made my money by helping business owners make money.

They had a need, and because of Virtual Tool Booths., I could fill it. Through the methods taught by my all-time favorite course and mentor, I created a 6-figure business in roughly 6 months. I could retire today (at 37) and never have to worry about money ever again.

Because of Virtual Tool Booths., I was able to quit my job, work online with flexible hours, and move to the mountains (Colorado Springs if you’re wondering)...all while helping real people improve their businesses, incomes, and lives!

For most folks, a college degree is the biggest bill of their lives. I never went to college. So I don’t have any massive bills or giant debts hanging over my head. My greatest education came from Virtual Tool Booths. (for a tiny fraction of what college costs) and it’s the bill that pays ALL the bills - a hundred times over!

I really wanted to share this secret weapon with others, so they could change their lives the way I changed mine. So if you’re not 100% sure about college, or only researching to make someone else happy, Virtual Tool Booths. might be a better option for you.

Want to know how I built this life with no formal education?

Learn More Here

What does a floor broker do?

Floor brokers (also called pit brokers) receive purchase and sell orders typically via a Teletype machine from the trading department of their firm. They negotiate prices with other floor brokers, complete the sale, and present the purchase price to sales agents. Their main goal is to get the best deal for the firm’s clients. They often assess the volatility and conditions of the market to make sure clients are receiving the best possible rate by determining the best time to execute transactions. Floor brokers must keep detailed records of all deals to present to the firm and its clients. Many floor brokers specialize in a specific type of securities.

What kind of training does a floor broker need?

Floor brokers must have at least a bachelor degree in finance, business, accounting, or other related field. Many employers prefer candidates that have sufficient work experience. Many floor brokers have a Master of Business Administration degree. Many aspiring floor brokers complete internships while pursuing their education to gain practical experience in the field. Most employers provide intensive on the job training to enable new floor brokers to learn the policies, procedures, and products and services offered by their firm. Floor brokers must also register as firm representatives with the Financial Industry Regulatory Authority (FINRA). Registration requirements include minimum experience and passing an examination. Floor brokers must stay current with new products and services and often complete continuing education and attend seminars and conferences on a regular basis.

What are the prospects for a career as a floor broker?

Employment of floor brokers is expected to grow about as fast as average for all professions, increasing 9% from 2008 to 2018 (1).

Job prospects are expected to be good with strong competition. Floor brokers with advanced education, professional certification, and extensive experience will have the best job opportunities.

How much do floor brokers make?

As of December 2009, the middle 50% of floor brokers earn annual salaries between $99,912 and $149,282. The top 10% earn annual salaries of more than $164,601 (2).

A career as a floor broker is a great choice for people with a strong interest in executing orders for clients of the trading floor of the stock exchange. Floor brokers must have a solid understanding of the practices, concepts, and procedures of the stock exchange and the ability to make effective decisions under stress and pressure. Patience, determination, assertiveness, critical thinking, self-confidence, and good negotiation skills are essential characteristics. Floor brokers must be able to deal with a wide variety of personality and work effectively in a fast paced environment.

Joshua T Osborne

Founder/CEO – Mr. & Mrs. Leads

$84K Per Month providing Toll Booth Leads to small business owners all over the United States. 

Degreefinders.com is for anyone who is looking to get out of the daily corporate grind and provide a better lifestyle for themselves and their families while bringing massive value to small business owners. 

You can learn more here.

Follow Me

Leave a Comment

Your email address will not be published. Required fields are marked *